Core Viewpoint - The reliance of the restaurant industry on pre-prepared dishes is decreasing, as evidenced by the shift towards fresher, made-to-order food options among leading restaurant chains like Jiumaojiu Group's Taier Sour Fish [1] Group 1: Market Trends - The pre-prepared dish concept sector saw initial strength, with stocks like Delisi and Huifa Foods hitting the limit up, but later experienced a decline of 1.51% on September 17 [2] - Analysts suggest that the long-term trend for pre-prepared dishes remains positive due to increasing restaurant chain standardization, rising labor costs, and faster consumer lifestyles, indicating growth potential in both B2B and B2C markets [2][3] - The demand for pre-prepared products such as cleaned vegetables and processed seafood is rising among chain restaurants, driven by considerations of cost, supply chain stability, and safety [2][3] Group 2: Industry Dynamics - The increasing chain restaurant ratio, currently around 30%, is expected to drive growth in pre-prepared dishes, creating a mutually beneficial cycle between industry concentration and supply chain strength [3] - Unlike the cooling B2C market, B2B sectors like cleaned vegetables and seafood processing continue to expand their market share [4] - The pre-prepared dish industry is still in its early to mid-development stage, with a fragmented competitive landscape and a focus on B2B efficiency and standardization [4] Group 3: Investment Landscape - Several provinces have previously launched supportive policies for the pre-prepared dish industry, focusing on local agricultural products, but many face challenges in attracting investment [6] - Investment in the pre-prepared dish sector has seen a decline since 2022, with a notable drop in financing activity in 2023 and 2024 [7]

Core Viewpoint - The pre-prepared food industry is facing significant challenges due to public scrutiny and declining performance among leading companies, despite the market's potential for growth and regulatory improvements [1][6][8]. Group 1: Market Performance - A-share pre-prepared food companies have experienced volatility, with some stocks rising and others falling in response to recent events [1]. - Major players like Weizhi Xiang and Delisi reported mixed financial results, with Weizhi Xiang's revenue increasing by 4.70% to 343 million yuan, but net profit declining by 24.46% [3]. - Anjixin's revenue grew by 0.80% to 7.604 billion yuan, but it faced a 15.79% drop in net profit, marking its first mid-year profit decline since listing [3]. - Guolian Aquatic Products reported a significant loss of 540 million yuan, with total revenue decreasing by 18.36% to 1.651 billion yuan [3]. Group 2: Industry Challenges - The pre-prepared food sector is under pressure from weak B-end consumption and intense market competition, leading to a decline in overall gross margins from 20.07% in 2018 to 13.79% in 2024 [4]. - Companies like Xianyin Food have struggled to turn a profit, reporting a 12.08% revenue decline and a net loss of 54.17 million yuan [4]. - The industry faces issues such as inconsistent standards and low consumer acceptance, highlighted by recent controversies and the formation of a "anti-prepared food alliance" among restaurants [4][5]. Group 3: Regulatory Developments - The government is increasingly focused on addressing the challenges faced by the pre-prepared food industry, with new regulations and standards being introduced [6][7]. - Guangdong province has implemented eight local standards for pre-prepared foods, and a national food safety standard is set to be released soon [7]. - Experts believe that recent controversies may ultimately benefit the industry's development by prompting necessary changes and improvements [7]. Group 4: Future Outlook - Despite current controversies, the direction for the pre-prepared food industry remains positive, with significant growth potential anticipated [8]. - The market size is projected to reach 674.9 billion yuan by 2030, with a compound annual growth rate (CAGR) exceeding 10% [7].

Market Overview - On September 16, the food processing sector declined by 0.69%, with Gais Food leading the drop [1] - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] Stock Performance - Notable gainers in the food processing sector included: - Qianwei Yangchu (001215) with a closing price of 36.15, up 3.52% and a trading volume of 72,300 shares, totaling 254 million yuan [1] - ST Chuntian (600381) with a closing price of 5.20, up 3.17% and a trading volume of 130,300 shares, totaling 65.9 million yuan [1] - Baba Food (605338) with a closing price of 24.23, up 2.54% and a trading volume of 24,800 shares, totaling 59.4 million yuan [1] - Major decliners included: - Gais Food (836826) with a closing price of 14.35, down 4.52% and a trading volume of 155,500 shares, totaling 225 million yuan [2] - Huadong Shares (002840) with a closing price of 11.92, down 2.77% and a trading volume of 312,700 shares, totaling 373 million yuan [2] - Huifa Food (603536) with a closing price of 11.11, down 2.54% and a trading volume of 354,400 shares, totaling 394 million yuan [2] Capital Flow - The food processing sector experienced a net outflow of 251 million yuan from institutional investors, while retail investors saw a net inflow of 217 million yuan [2] - The detailed capital flow for selected stocks showed: - ST Chuntian (600381) had a net inflow of 10.68% from institutional investors [3] - Qianwei Yangchu (001215) had a net inflow of 2.25% from institutional investors [3] - Gais Food (836826) had a net outflow of 0.41% from institutional investors [3]

Group 1 - The recent controversy surrounding the use of pre-prepared dishes in restaurants, particularly highlighted by Luo Yonghao's comments about Xibei, has led to increased public attention on the pre-prepared food sector [1][2] - The National Health Commission has successfully passed the draft of the "National Standards for Food Safety of Pre-prepared Dishes," which will soon be open for public consultation, establishing a unified definition and mandatory disclosure for the use of pre-prepared dishes in restaurants [2][3] - Following the announcement, several A-share pre-prepared dish concept stocks experienced significant gains, with Delisi (002330) hitting the daily limit and closing at 5.45 yuan, up 10.10%, and its pre-prepared dish revenue projected to account for 21.67% of total revenue in 2024 [2][3] Group 2 - The stock of Longda Meishi (002726), a supplier to Xibei, also rose by 5.69% to 6.13 yuan, following a strategic cooperation agreement with Xibei to enhance product supply and brand influence [3] - Industry experts are optimistic about the positive impact of regulatory standards on the pre-prepared dish sector, with expectations that the introduction of these standards will promote industry self-discipline and benefit leading brands [3] - The recent discussions around pre-prepared dishes have emphasized the need for restaurants to disclose their use of such products, which is expected to strengthen industry self-regulation and enhance consumer trust in quality brands [3]

Group 1 - The recent events involving Luo Yonghao and Xibei have sparked renewed consumer interest in the "pre-prepared dishes" industry, leading to significant stock price increases for related listed companies [1] - Companies such as Delisi (002330), Huifa Food (603536), and Longda Meishi (002726) saw their stocks hit the daily limit, while Guolian Aquatic (300094) experienced a peak increase of 12.43% during trading [1] - The pre-prepared dishes market in China is projected to reach a scale of 485 billion yuan in 2024, with a year-on-year growth of 33.8%, and is expected to reach 749 billion yuan by 2026 [6] Group 2 - The regulatory framework for the pre-prepared dishes industry has begun to take shape, with various standards and regulations being established to promote high-quality development [4][5] - The National Market Supervision Administration and other ministries issued a notification in March 2024, providing clear definitions and standards for pre-prepared dishes [4] - Despite the rapid growth of the market, challenges such as low entry barriers, product homogeneity, and consumer trust issues have intensified competition, leading to a general decline in profits across the industry [7] Group 3 - Financial reports from several pre-prepared dish companies for the first half of 2025 indicate a decline in net profit, with Guolian Aquatic reporting a loss of 550 million yuan [9] - Most companies have experienced a decrease in gross profit margins, with notable declines in revenue for companies like Longda Meishi and Huifa Food [8][9] - The high-gross-margin companies, such as Anjixin Food and Sanquan Food, are identified as industry leaders, while others like Guangzhou Restaurant and Xianyin Food have restaurant operations that may affect their performance [10] Group 4 - The customer base for pre-prepared dishes includes a wide range of dining establishments, from fast food chains to high-end restaurants, indicating the widespread acceptance of these products in the food service industry [11] - Companies are exploring new profit growth points, with some, like Haodangjia, venturing into the health and wellness sector by developing marine product-based health supplements [11]

Core Viewpoint - The recent surge in the stock prices of pre-prepared food companies in A-shares is attributed to the public's renewed interest in the pre-prepared food industry, sparked by the apology from Jia Guolong and the upcoming national food safety standards for pre-prepared foods [1][5]. Group 1: Stock Performance - As of September 15, several companies, including Huifa Food, Guolian Aquatic, and Tiankang Biological, saw stock price increases of over 5%, with Delisi reaching a daily limit increase [2]. - Among the rising stocks, suppliers of pre-prepared food, such as Qianwei Yangchun and Longda Meishi, are also noted [3]. Group 2: Regulatory Developments - The significant stock price increase is linked to the approval of the draft national food safety standards for pre-prepared foods by the National Health Commission on September 13, which will provide a unified "identity certification" and safety baseline for the industry [5]. - The pre-prepared food industry has seen regulatory developments only in the past three years, with standards being gradually established [8]. Group 3: Industry History and Trends - The pre-prepared food industry in China dates back to the 1990s, with significant developments occurring between 2000 and 2005, when many of the currently rising companies were registered [6]. - The rise of pre-prepared foods has been facilitated by the emergence of central kitchens and cold chain logistics since 2008, allowing for standardization and wider adoption across various restaurant types [12]. Group 4: Consumer Perception and Market Dynamics - Consumers express concerns about the safety of pre-prepared foods, reflecting a deeper frustration over the loss of transparency regarding food preparation [10]. - The convenience and cost-effectiveness of pre-prepared foods make them appealing to both large and small restaurants, leveling the playing field in the food service industry [12].

Core Viewpoint - The article discusses the recent surge in the stock prices of pre-prepared food companies in China, driven by the introduction of national food safety standards for pre-prepared dishes, which has brought renewed attention to the industry and its controversies [3][8]. Industry Overview - The pre-prepared food index has shown a growth of 1.71%, reaching a value of 1070.24 [6]. - Notable stock price increases include: - Delisi: 10.10% increase to 5.45 - Longda Food: 5.69% increase to 6.13 - Huifa Food: 5.56% increase to 11.40 - Guolian Aquatic: 5.03% increase to 3.97 [7]. Regulatory Developments - On September 13, the National Health Commission approved a draft for national food safety standards for pre-prepared dishes, which will soon be open for public consultation. This marks the first time the industry will have a unified standard and safety baseline [8]. - The regulatory framework for pre-prepared food has been evolving over the past three years, with significant milestones including the release of group standards by the China Cuisine Association in 2022 and the inclusion of pre-prepared food definitions in the Central Document No. 1 in 2023 [9][10]. Market Dynamics - The pre-prepared food industry in China has been developing since the 1990s, with significant growth occurring between 2000 and 2005, when many current companies were established [9]. - The rise of pre-prepared food has been facilitated by the advent of central kitchens and cold chain logistics, making it more accessible for various restaurants, including small eateries [12]. - The article highlights a shift in consumer sentiment, where the demand for pre-prepared food is driven by convenience, especially among busy individuals who may not have time to cook [10][12]. Consumer Sentiment - There is a growing concern among consumers regarding the safety and transparency of pre-prepared food, reflecting a deeper frustration with the lack of knowledge about what they are consuming [10]. - The article suggests that the nostalgia for traditional cooking methods and the "smoky" essence of home-cooked meals is prevalent among consumers, indicating a potential market for authentic dining experiences [13].

Core Viewpoint - The recent events involving Luo Yonghao and Xibei have sparked renewed consumer interest in the "pre-prepared dishes" industry, leading to significant stock price increases for related listed companies on September 15, 2025 [1][10]. Industry Overview - The pre-prepared dishes industry is gradually entering a path of standardized development, with regulations and standards being established in recent years. However, challenges such as low entry barriers and varying consumer perceptions complicate market entry for new players [3][4]. - In March 2024, a joint notification from several government departments outlined clear definitions and standards for pre-prepared dishes, marking the beginning of a standardized development path for the industry [4]. Market Growth - According to iMedia Consulting, the market size of China's pre-prepared dishes reached 485 billion yuan in 2024, reflecting a year-on-year growth of 33.8%. The market is expected to grow to 749 billion yuan by 2026 due to technological advancements and supportive policies [5]. Competitive Landscape - Despite rapid market growth, the industry faces intense competition, characterized by low entry barriers, product homogeneity, and a crisis of consumer trust, leading to declining profits across many companies [6][9]. - Financial reports from various pre-prepared dish companies for the first half of 2025 indicate a general decline in net profits, with several companies reporting losses. For instance, Guolian Aquatic Products reported a loss of 550 million yuan [7][9]. Company Performance - Key financial metrics from several pre-prepared dish companies for the first half of 2025 include: - Longda Meishi: Revenue of 782 million yuan (-19.5% YoY), gross margin of 12.43% (+1.24% YoY) - Guolian Aquatic Products: Revenue of 1.65 billion yuan (-18.36% YoY), net loss of 550 million yuan - Huifa Food: Revenue of 734 million yuan (-17.75% YoY), net loss of 31 million yuan - Aixin Food: Revenue of 7.604 billion yuan (+0.8% YoY), gross margin of 20.52% (-3.39% YoY) [7][9]. Consumer Insights - Consumers express a desire for transparency and choice regarding pre-prepared dishes, indicating that they are not opposed to the concept but seek better information about the products [10].

Core Viewpoint - The recent controversy surrounding pre-prepared dishes, sparked by comments from entrepreneur Luo Yonghao, has led to increased attention on the pre-prepared food sector, particularly with the upcoming national food safety standards set to clarify the definition and disclosure requirements for pre-prepared dishes [2][4] Industry Summary - The National Health Commission has successfully passed the draft of the "National Standards for Food Safety of Pre-prepared Dishes," which will soon be open for public consultation, aiming to establish a unified standard for the industry [2][4] - The introduction of these standards is expected to enhance industry self-regulation and benefit leading brands, allowing them to consolidate their market advantages [3][4] Company Summary - Following the news, several A-share pre-prepared dish concept stocks experienced significant gains, with Delisi reaching a 10.10% increase, closing at 5.45 yuan, and projecting that pre-prepared dish revenue will account for 21.67% of its total revenue in 2024 [3] - Other notable stocks included Weizhi Xiang, which saw a 4.93% increase, and Longda Meishi, a supplier to Xibei, which rose by 5.69% after signing a strategic cooperation agreement with Xibei [3]

Core Insights - The pork concept sector experienced a significant increase of 2.82%, leading the gains among concept sectors as of the market close on September 15 [1][2] - Within the pork sector, 31 stocks rose, with notable performers including Deli Foods and Aonong Biological reaching their daily limit up, while Shuanghui Development and Shunxin Agriculture saw slight declines [1][2] Sector Performance - The pork sector was the top performer with a daily increase of 2.82%, followed by cloud gaming at 2.63% and electronic sports at 2.53% [2] - Other sectors such as military information technology and copper cable high-speed connections experienced declines of -1.35% and -1.30%, respectively [2] Capital Flow - The pork concept sector attracted a net inflow of 457 million yuan, with 20 stocks receiving net inflows, and 12 stocks exceeding 10 million yuan in net inflow [2][3] - Aonong Biological led the net inflow with 199 million yuan, followed by Wens Foodstuffs and Deli Foods with 186 million yuan and 64 million yuan, respectively [2][3] Stock-Specific Data - Deli Foods and Aonong Biological had the highest net inflow ratios at 31.16% and 21.92%, respectively, indicating strong investor interest [3][4] - Other notable stocks included Wens Foodstuffs with a net inflow ratio of 9.12% and Muyuan Foods at 1.34% [3][4]